Web Summit, November 2019
#WebSummit2019 took place in Lisbon, Portugal. It is one of the largest annual technology events in the world. Each year, 70,000 visitors and 1,200 speakers, business leaders, and media attend the event. It is the most expected technology event of the year. And it was definitely such for me. Some of the biggest names of the tech scene were present. Notable personalities held talks on the stage, such as Marcelo Nuno Duarte Rebelo de Sousa (the President of Portugal), Huong Ping (Huawai Chairman), Edward Snowden (former CIA, NSA Agent), Brad Smith (Microsoft President), Hans Vestber (Verizon CEO), Gilian Tans (Booking.com Chairwoman), the former UK Prime Minister Tony Blair, Jaden Smith (Actor and Founder of Just Wanter) and around 2,150 startup companies presenting their products and pitching in front of 1,200 tech investors.
From the very beginning I can say: without a doubt, the Web Summit is a very different “beast” than I had ever experienced before.
On the 4th of November, I needed to go register for the event. Web summit created a mobile app which comprised everything you needed to know like: what is the fastest way to go the event (there was a transport discount for the Web summit attendees, which allowed me only for 25Euro to buy unlimited access for every kind of transportation for 5 days); what and where is the opening night and the Night Summit; a map of the venue; what should I bring and what I should not bring?
There were no paper tickets, everything was freely accessible in the mobile app. The ticket was digital as well. The organisers also encouraged us to bring our own reusable water bottle. There were water fountains around the venue where we could have refilled.There was a very strict security check every time you were entering the venue and every time you were exiting it. The venue was something huge.
Day 1
On the 4th of November, after everyone registered, there was the Opening night. It was a pure miracle that I entered the Altice Arena. Almost 11K people did not have the opportunity to enter the central stage. For the Opening night one talk that I wanted to attend was called “In conversation with Edward Snowed”. Edward Snowden, the man who risked everything to expose the US government’s system of mass surveillance. A name familiar to us all. We know the actions which have led him to live a life in hiding. He went into detail about the story that has shaped his life, including how he helped to build that system and what motivated him to bring it down. James Ball, who is the global editor at the Bureau of Investigative Journalism interviewed him. He is also a formal Guardian special project editor.
The talk was very interesting. However, what was more exciting was the whole vibe on the venue. So many people, with such different backgrounds, excited to hear more. Curious people “hungry” and excited to learn, develop and build something more.
In conversation with Edward Snowden, Web Summit 2019
After that, it was time to explore Lisbon. Lisbon is such a beauty. Everything is so clean; the people are very warm and smiley and E-V-E-R-Y-O-N-E speaks perfect English. What impressed me was that while you are walking around the city, you can see different sculptures, a series of Big Trash Animals, that aims to raise awareness about a current problem is likely to be forgotten and become trivial or a necessary evil: consumerism, trash production, waste, contamination, pollution and their effects that destroy our planet’s harmony, which is our unique habitat. Here you have some pictures of this:
Day 2
They called one of the first lectures I attended, “What they do not teach you in business school”. The talk was good, in participation with the singer Akon and Vasco Pedro (CEO & Co-Founder at Unbabel), Carlos Moedas (European Commissioner for Research, Science and Innovation at European Commission) and Anne Gaviola (Economics & Money Editor at VICE) You can check out the talk here:
What they do not teach you in Business School talk
The participants were stating their points of view on whether going to business school is necessary at all to become a successful person. Of course, the answer is that nothing is necessary.
From my point of view going to a business school is indeed not an obligation, however it could enrich your critical thinking and also, could expand your world horizon simply because you would be led to meeting with so different people, with so different lifestyle backgrounds and with a different way of thinking that you would definitely evolve as a better human being. At least that was the case with me and my graduation from the University of Sheffield, back in 2016. At the end of the day, it was not the diploma from one of the top Universities in the world that enriched my life. It was the whole adventure of 4 years of being surrounded by people so different from me, hence so motivated and so pushy that I graduated with a lot of gratitude and self-confidence. The network that stays after graduating, the memories you have built during this time and the friendships that would never fade away - this is what graduating from a business major gave me and I have never regretted enrolling there. Not even for a second.
Another talk I attended was about “Microsoft’s new vision for the web” which was led by Liat Ben-Zur (the Corporate Vice President of Modern Life, Search & Devices at Microsoft). The talk was about the company’s renewing its investment on the web to deliver the best browser and search experiences for everyone, starting today with the business. More about her talk here:
The conversation titled “Leadership lessons from sport” delivered by Valentina Shevchenko (UFC), Antonina Shevchenko (UFC), Liv Boeree (Effective Giving), Alejandro Agag (Formula E). All of them were in the opinion that respect is earned, not given, leadership is learned through hard work, sacrifice and dedication. And sport definitely can help you succeed in this.
My sport’s passion for almost 2 years already is Crossfit. I have always loved taking part in some sports. When I was little, my parents enrolled me in ballet classes; later on, I started going to dances and when I started 5th grade, I enrolled myself into the local volleyball club. I have played volleyball for almost 7 years. When I moved to live in Sofia, it was very hard for me to choose on what type of sport I wanted to do. Nothing seemed competitive enough or interesting enough for me. But then, two years ago, I got keen on Crossfit, and along with Crossfit my everyday life improved. So yes, I do share their views as well–nothing to you is given as a present, every win should be earned through hard work, and dedication which sport can help you achieve via discipline.
Bulgaria Fittest 2020 - What's your superpower?
Day 3
The day started with Brittany Kaiser. Maybe some of you are familiar with this name from the Netflix movie “The great hack”. But guys, this woman is a pure muse. I went to two of her lectures called “Can anything be private anymore?” and “Combating the weaponisation of data”.
Can anything be private anymore?
It is a fact that big data has replaced big oil as the most valuable global commodity. The buying, selling, and utilization of data has made it almost impossible to maintain a private existence. As the former director of business development at Cambridge Analytica, Brittany Kaiser saw first-hand how data could be weaponized to influence and manipulate people. Her advice is that everyone should take care of how and whether their data is being protected, to read terms and conditions before they click the approval and to download the app they want to download. And if you do not do that, just make the decision that you need your data to be protected and not use that app - in this way, you choose the data protection over convenience. You cannot have everything. People need to choose what they can sacrifice.
The Great Hack
Both Brittany Kaiser and Edward Snowden were called “whistle-blowers”. Most of the people nowadays mix the “whistle-blower” term with the term “leaker”.
According to John Tye (Whistleblower Aid), the “whistle-blower” has a personality of a person who always thinks they are smarter than their boss. They are these people in the organisation that wants and believe that they can change things, without quitting or leaving their job. Also, a “whistle-blower” is a person who reveals information of a person or group who can harm the organisation in which they are working. People who try to harm an institution, public or private, through illegal and unethical activities.
A “Leaker”, however, is a person who leaks a company’s information to an allowed party (media, journalists, and other people who are not authorized/entitled to receive it).
Whistle-blowing takes a lot of courage. Standing against a powerful organisation to reveal wrongdoing is never easy. The legal procedures can be a labyrinth and going around those procedures can lead to jail time and prosecution. John Tye, the Founder and the CEO of Whistle-blower Aid, is helping “whistle blowers” all around the world to “play their cards” in such a way so they would not be arrested. His advice in the talk I’ve attended was “Always talk to a lawyer before you do the actions you want to do”.
“Rebuilding trust in tech” - A talk given at the venue by Brad Smith (The president of Microsoft), Ro Khanna (House of Representatives), Karen Tso (CNBC). Trust in the tech sector is, arguably, at an all-time low. The positive contribution of big tech to society is now being challenged. Rebuilding trust would require new regulations and a renewed willingness from tech to work together with policymakers to ensure it does not repeat the mistakes of the past. However, trust is very hard to be gained once it is already lost. As already mentioned above, data is the most valuable asset in the world. AI is the key, however, data is the fuel for it, so every economy should carefully think how to “trade” the data. Also, in order for trust to be gained, tech companies already are held responsible for their mistakes, governments, however, should be as well.
“Political journalism in a post-truth era”–A talk provided by Dafna Linzer (NBC TV Group), James Ball (The Bureau of Investigative Journalism), Tim Alberta (POLITICO), Steve Clemons (The Hill). Political Journalism has become one of the most commonly reticulated of professions–with constant accusations of fake news, bias, and inaccuracy being hurled at political journalism across the world. The panel discussed how to counter this narrative and provide accurate and fair political reporting in an era that has lost touch with what the truth is. One of the main points stated in the talk was that “being right is much more important than being first”. The key overall is in the diversity–for journalism, for motivation, for companies and also to be opened for it.
“Myths and facts: Everyone has an AI story”–A talk provided by David Cancel (Drift), Sudheesh Nair (ThoughtSpot), Falon Fatemi (Node), Jeremy Kahn (Fortune Magazine). A discussion regarding if the end of hand-coding is nigh, where does the future lie? With AI. As mentioned in the above, AI is the key, however, data is the fuel for it. And it is not about the algorithms, it’s all about the data. They gave one tool of analysing data to be LIME–model predictions at the data of a simple level. It allows end-users to interpret these predictions and take actions based on them. It was concluded in this talk that not only should economies be democratised, but technology should be as well.
Day 4
Amit Rai, the CEO of MachineMax, gave a talk called “It’s rarely sunny in the CEO Land”. He pointed out that many people think to be a tech CEO’s rosy, but that’s not always the case and yes–you have to put in a lot of work. He pointed out the following notes of being a CEO of a tech company: 1. You have multiple bosses (your investors, your business/stakeholders etc.); 2. There is no such thing as a work-life balance (that’s a total myth–you need to work faster and harder than anybody!); 3. Make bold claims. 4. You definitely do not do things you want to do; 5. There are a LOT of ups and downs. (You can share most of the ups with your team, but not necessarily the downs!)
The facts I have heard from the CEOs is that you have to struggle through tons and tons of different things every day and protect your team day in and day out. I am still NOT a CEO, however I think it is a good point of view to think about for the people that would be there some day. Including me.
Another talk provided by Karen McCormick, Tara Reeves, Rob Lowe, Avi Eyal and Eva Baczynska was called “Gen Z consumers–what do they want”. Interesting topics and conclusions were drowned upon the subject. The older GenZs are 24. Just in the US they are making around 25% of the population which is making them the largest cohort, even larger than the baby boomers and the millennials. Since now they are entering the workforce, they have money to spend. However, how do they differ from the millennials generation?
What are their characteristics? Well, according to the speakers, the UX is so important to them - they simply won't put up with a poorly designed experience. Another thing that was concluded as fascinated regarding GenZs is that they are interested in NOT talking to people. So, most of the giant techs are trying to reach/communicate to them via digital therapeutics, helping the youngsters to communicate via chat with different people - whether it is for losing/gaining weight, or asking them to have a guide for the vet in order someone to actually make them calm when they engage in a real conversation. They do not want to be as reachable as the millennials are, which is in a total contrast with the FOMO anxiety from which all these young people are likely to suffer. FOMO - The Fear of Missing out - anxiety that an existing or interesting event may happen elsewhere, often aroused by posts seen on social media.
GenZ consumers What do they want?
So what brands need to do if they need to attract GenZ as a segment target market?
- Create a good product with a good mission/story
- Definitely embrace technology
- Create brand reputation
and last but not least - turn the FOMO phenomenon to a JOMO phenomenon - The JOY of Missing OUT.
For example, VSCO and Instagram are trying to ENHANCE creativity through youngsters. They appeal for it; they are not trying to demolish it since the mission of VSCO is exactly this - to enhancing creativity. For GenZs the ethical fashion, having real value, essence of what is offered and being involved in causes, is from huge importance! That's why influencer marketing is so famous today. It is like the celebrity marketing, however, the clients can actually get in touch and communicate with the "influencer".
“Will tech be the downfall of luxury”, a talk by Josh Luber (StockX), Josh builder (Rent the Runway), Maghan McDowell (Vogue Business), provided us with insights of what happens when luxury is available to everyone. Is it even a luxury anymore? This panel tackled the changing nature of luxury as fashion becomes recyclable and brick-and-mortar stores lose their exclusive status.
Some argued luxury should be all about the customer journey and experience with other brands, the customer put out of their comfort zone and relying mostly on comfort. How do they also define luxury? Luxury is access to art and a choice of how people want to spend their money. Since talking about fashion and luxury, the presentation given by Daniel Grieder (Tommy Hilfiger Global & PBH Europe), left us speechless. We perceive Tommy Hilfiger as a luxury brand and Daniel shared the 4 pillars of the company which are: Business vision, Brand, Product and People.
According to him, data is the most important asset of our everyday life. Because of augmented reality and the data, the shop window would always look different. The clients could see themselves in the shop window, dressed in the clothes that are hanging in the shop. And it would become even crazier. The client’s avatar could shop online and also send messages. According to Daniel, the warehouse of the future is no longer just a warehouse for goods. They can use it for personalisation, collection, recycling and so on. In the digital showroom, the buyer makes a digital selection. So, there would be no more physical samples. The buyer could also already see how the merchandise would look in his shop. As a final consumer, the clients could soon buy digitally. Instead of them fitting clothes, their avatar could fit any product in the digital world. According to the CEO, this also happens in several test stores in the brand. The goal of the company is from a famous luxury brand to become a platform.
“Robotics.. but make it fashion” by Lisa Lang (ElektroCouture & The PowerHouse), Amber Jae Slooten (The Fabricant), Mark Russel (British Vogue) suggested that we are stepping into a world of AR beauty, VR fashion shows and smart clothing. This panel helped us see the potential of big tech and robotics to change the fashion industry for good.
Lisa Lang suggested that the clothes must not be washed, they should adapt to the client’s skin. She also suggested that one of the new job positions that would be searched on the marketplace would be called “Digital Creative Directors”. What’s from a big importance, according to the panel, no matter the business sphere a person is in, you must go on “a journey” when having a coffee with different people like mechanists, chemistry hackers, musicians, since this is the only way to broaden your horizon–the different people.
Along with everything written so far, as it was already mentioned in the beginning: without a doubt, the Web Summit is a very different beast than I had ever experienced before. There is no better conclusion for this article than the first words of the Web Summit 2019’s trailer
“Imagine for a moment that future generations could reach back in time to speak to you–what would they say? Would they despair? Stop. You’ve no idea what’s yet to come. Never stop trying for the better tomorrow, keep imagining, believing, dreaming. Would they tell us off for new machines, the secrets of progress? Would they plead with us to care for our world? The very nature of communication will grow in ways you can’t possibly imagine. And it would change us forever. Across the vastness of time, the future calls out to us and we must answer.”
#WebSummit2019 #Lisbon #Portugal #TechSavvy